If you’re focused on increasing your business’ online sales figures, it’s crucial for your business’ long term growth, to invest in proven, innovative software solutions. As an example, it’s of the utmost importance to ensure that your business boasts an e-payment authentication system. Which will protect your business from becoming a victim of online payment fraud.
Why your business needs to invest in innovative software solutions:
Accepting online credit card payments can be risky for your business without e-payment authentication. As online businesses are often the target of fraudulent credit card scams. In order to ensure that your business is protected against such scams it’s essential to have a series of automated processes put in place to double check the legitimacy of each credit card payment which is processed by your business’ merchant service.
How can e-payment authentication protect your business?
Each credit card transaction will be verified before it is processed:
If you ensure that your business has a trusted e-payment authentication process put in place, each time an individual tries to make an online payment, using a credit card, your business’ authentication software will complete numerous checks to ensure the validity of the transaction.
Firstly, it will check that the address which is associated with the credit card, which is being used, matches the delivery address of your potential customer’s order. If these two addresses don’t match up the credit card payment will automatically fail.
At the same time your e-payment authentication process will also check the IP address of your potential customer. To ensure that there is no fraudulent activity associated with your customer’s IP address.
Before a customer can successfully process a payment with your business, using a credit card, they’ll also have to enter their CVV security number into their payment information. As a CVV code, which is a short 3 digit code, is only located on the back of a credit card.
The only way for an individual to give you the correct CVV code, which is associated with a credit card, is to have their credit card on hand. Which proves that the individual who is trying to use a credit card to pay for their order, legitimately has their credit card in their hand and is not likely to be a fraud.
Are there any additional security dangers which you should be aware of?
Yes, many hackers try to use fraudulent chargebacks in order to charge businesses, for goods and products which they never received. Such individuals may use a fraudulent credit card in order to process an order through your business. Only to process countless chargebacks to your business’ bank account, which are 100% fraudulent. So if you want to prevent your business from being the victim of credit card fraud, it’s essential to invest in an e-payment authentication process which you can trust, to protect your business’ interests.
Now that you’re well aware of the dangers of credit card fraud and online hackers, it’s a great idea to select an e-payment solution through https://www.paay.co which you can trust to protect your business and to screen all of the credit card payments which are made through your website.